The March 2013 F&O contracts expire on today, which may increase the volatility.

On Tuesday, the CNX Nifty advanced 7.75 points to close at 5,641.60. Interestingly the market went up on a lower volume indicating that the bounce may not sustain at higher levels. As reported earlier at higher levels the market is in the strong hands of bears on account of current unstable political climate. However some stocks may move up owing to stock specific activity. Today the market may move up owing to the F&O activity. We expect the Nifty to make a strong bid to move up from the current level. Currently Nifty has hit a strong support of 5600. Since the market is trading below the crucial line of 5675 the market may try to bounce up and down! The current move should be watched carefully but any recovery may be short lived. We would update you after watching the shift over positions. The market is closed tomorrow on account of Good Friday.